- Firefly Resources (FFR) has successfully completed the demerger of its subsidiary, Firebird Metals
- Shares under the newly created Firebird Metals are set to begin trading on the ASX on March 18 under the ticker code FRB
- The Firebird board will consist of Evan Cranston as Non-Executive Chairman, Peter Allen as Managing Director and Wei Lin as Finance Director
- The creation of Firebird was first announced in December 2020 after Firefly revealed it would be severing its Oakover Manganese Project and turn it into its own ASX-listed business
- This severing is a result of Firefly shifting its focus from manganese exploration to its Yalgoo Gold Project in Western Australia
- Firefly has ended the day 8.33 per cent in the green with shares trading at 13 cents
Firefly Resources (FFR) has successfully completed the demerger of its subsidiary, Firebird Metals.
Shares under the newly created Firebird Metals are set to begin trading on the ASX on March 18 under the ticker code FRB.
The Firebird board will be consist of Evan Cranston as Non-Executive Chairman, Peter Allen as Managing Director, Wei Lin as Finance Director and Ashley Pattison as Non-Executive Director.
The creation of Firebird was first announced in December 2020 after Firefly revealed it would be severing its Oakover Manganese Project and transforming it into its own ASX-listed business.
This severing is a result of Firefly shifting its focus from manganese exploration to its Yalgoo Gold Project in Western Australia.
Under the plan, 25 million Firebird shares were issued to Firefly shareholders and FFR investors had first dibs on the Firefly initial public offering (IPO).
Earlier in the month, Firebird received conditional approval to list on the ASX.
Firefly has ended the day 8.33 per cent in the green with shares trading at 13 cents in a $39.13 million market cap.